Total Crypto Market Cap
What is Total Crypto Market Cap?
The Total Crypto Market Cap Token (TCAP) is a cryptocurrency-based financial product designed to offer real-time price exposure to a broad range of digital assets for all cryptocurrency traders and decentralized finance (DeFi) users. The token was developed by Cryptex Finance, a company founded by Joe Sticco and Preston Van Loon.
TCAP is an Ethereum-based ERC-20 compatible smart contract that tracks the value of the total market capitalization of all cryptocurrencies. The market cap is calculated by multiplying the total number of tokens that have been mined by the price of a single token at any given point in time. The TCAP token aims to provide an opportunity for users to gain exposure to the entire cryptocurrency market in a decentralized and trust-minimized protocol.
The token is fully backed and collateralized, representing the entire cryptocurrency complex by total market cap. TCAP smart contracts use a multi-sig admin key that can instantly pause some of the actions in the smart contracts to protect users from any bugs, hacks, or other risks. Multi-sig or multi-signature requires multiple signatures from different addresses for a transaction before it can be executed.
Users can mint, trade, or farm TCAP tokens and can earn staking rewards on them. The stakers are incentivized to provide liquidity for TCAP tokens on various decentralized exchanges, and the rewards are distributed based on each user's percentage of pool ownership.
The TCAP token tracks a total market cap index of more than 2000 crypto assets and divides it by 10 billion. This allows users to speculate in the entire cryptocurrency market by getting a token representing the entire market, and thus, saving them from the risk of owning all those assets individually.
In summary, TCAP is a useful tool for cryptocurrency traders and DeFi users who want to gain exposure to the entire cryptocurrency market in a decentralized and trust-minimized protocol. Developed by Cryptex Finance, the token tracks the value of the total market capitalization of all cryptocurrencies and offers users the opportunity to mint, trade, farm, and earn staking rewards on it.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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